A researcher studies water clarity at the same location in a lake on the same dates during the course of a year and repeats the measurements on the same dates 5 years later. The researcher immerses a weighted disk painted black and white and measures the depth​ (in inches) at which it is no longer visible. The collected data is given in the table below. Complete parts​ (a) through​ (c) below.

Observation   Date   Initial Depth, X_i   Depth Five Years Later, Y_i
1   1–25 61.7 60.2
2 3–19 40.3    40.9
3 5–30 73.5 71.4
4 7–3 69.7 71.6
5 9–13 74.9 69.2
6 11–7    48.8   50.9

a) Why is it important to take the measurements on the same​ date?

A. Those are the same dates that all biologists use to take water clarity samples.

B. Using the same dates makes the second sample dependent on the first and reduces variability in water clarity attributable to date.

C. Using the same dates makes it easier to remember to take samples.

D. Using the same dates maximizes the difference in water clarity.

​b) Does the evidence suggest that the clarity of the lake is improving at the a=0.05 level of​ significance? Note that the normal probability plot and boxplot of the data indicate that the differences are approximately normally distributed with no outliers.

Let di=Xi-Yi. Identify the null and alternative hypotheses.

H0: (p, od, μd) (<,>,=, ≠) BLANK

H1: (p, od, μd) (<,>,=, ≠) BLANK

Determine the test statistic for this hypothesis test.

Find the​ P-value for this hypothesis test.

P-value=

What is your conclusion regarding H0​?

A.Do not reject H0. There is not sufficient evidence at the a= 0.05 level of significance to conclude that the clarity of the lake is improving.

B. Do not reject H0.There is sufficient evidence at the a=0.05 level of significance to conclude that the clarity of the lake is improving.

C. Reject H0. There is sufficient evidence at the a=0.05 level of significance to conclude that the clarity of the lake is improving.

D. Reject H0. There is not sufficient evidence at the a=0.05 level of significance to conclude that the clarity of the lake is improving.

c) Draw a boxplot of the differenced data. Does this visual evidence support the results obtained in part​ b)?

Does this visual evidence support the results obtained in part​ b)?

A.Yes because the boxplot supports that the lake is becoming more​ clear, since most differences are positive or near 0.

B. Yes because the boxplot supports that the lake is becoming more​ clear, since most differences are negative.

C. No because the boxplot supports that the lake is not becoming more​ clear, since most differences are negative.

D. No because the boxplot supports that the lake is not becoming more​ clear, since most differences are positive or near 0.

1. Types of Contracts. Professor Dixon was an adjunct professor at Tulsa Community College (TCC) in Tulsa, Oklahoma. Each semester, near the beginning of the term, the parties executed a written contract that always included the following provision: “It is agreed that this agreement may be cancelled by the Administration or the instructor at anytime before the first class session.” In the spring semester of Dixon’s seventh year, he filed a complaint with TCC alleging that one of his students, Meredith Bhuiyan, had engaged in disruptive classroom conduct. He gave her an “incomplete” grade and asked TCC to require her to apologize as a condition of receiving a final grade. TCC later claimed, and Dixon denied, that he was told to assign Bhuiyan a grade if he wanted to teach in the fall. Toward the end of the semester, Dixon was told which classes he would teach in the fall, but the parties did not sign a written contract. The Friday before classes began, TCC terminated him. Dixon filed a suit in an Oklahoma state court against TCC and others, alleging breach of contract. Did the parties have a contract? If so, did TCC breach it? Explain. [Dixon v. Bhuiyan, 10 P.3d 888 (Okla. 2000)]

FACTS-Professor Dixon was an adjunct professor at Tulsa Community College (TCC) in Tulsa, Oklahoma. Each semester, near the beginning of the term, the parties executed a written contract that always included the following provision: “It is agreed that this agreement may be cancelled by the Administration or the instructor at anytime before the first class session.” In the spring semester of Dixon’s seventh year, he filed a complaint with TCC alleging that one of his students, Meredith Bhuiyan, had engaged in disruptive classroom conduct. He gave her an “incomplete” grade and asked TCC to require her to apologize as a condition of receiving a final grade. TCC later claimed, and Dixon denied, that he was told to assign Bhuiyan a grade if he wanted to teach in the fall. Toward the end of the semester, Dixon was told which classes he would teach in the fall, but the parties did not sign a written contract. The Friday before classes began, TCC terminated him. Dixon filed a suit in an Oklahoma state court against TCC and others, alleging breach of contract. ISSUE-Did the parties have a contract? If so, did TCC breach it? Explain. RESOLUTION-[Dixon v. Bhuiyan, 10 P.3d 888 (Okla. 2000)]

How did the court answer the questions? What did the court decide? EXPLANATION-Do you agree with the court? Why or why not? Can you change any facts to give a different result?

Decimal value data types such as float and double represent the decimal number as an approximation. In other words, float or double arithmetic do not give exact answer but near approximation to the answer. As an example, run the following program and check its result:
#include <iostream>
using namespace std;
int main()
{
float x= 0.1 * 7;
if (x == 0.7)
cout<< "TRUE. \n";
else
cout<< "FALSE. \n";
return 0;
}
In some situations, we need our programs to give exact solutions instead of near to exact answers. Some programming languages provide a special data type called Decimal that represents decimal numbers without the use of approximation. Write a program in C++ that implements the Decimal data type using a class called BigDecimal. This class will allow users to create decimal values and perform several operations on these values. The class should use two member variables:
- the integer part saved as a string
- the decimal part saved as a string
For example, the following instance BigDecimal d("6.45678"); will store "6" in the first variable and "45678" in the second variable
The class should have the following functionalities:
Member Function Description
BigDecimal() The default constructor. Creates the number 0.0
BigDecimal(string) A constructor that accepts a string representing the numeric value with the decimal point.
== operator Accepts two BigDecimal values and compares their values. If the two decimal values are equal then the method should return true otherwise it should return false.
!= operator Accepts two BigDecimal values and compares their values. If the two decimal values are equal then the method should return false otherwise it should return true.
++ operator (prefix) This operator should increment the integer part of BigDecimal object by one. The overloaded ++ operator should return the contents of the object (using this pointer) after it is incremented.
++ operator (postfix) This operator should increment the integer part of BigDecimal object by one. The overloaded ++ operator should return the contents of the object before it is incremented.
<< operator Displays the numeric value of BigDecimal to the standard output.
>> operator Reads a string value from the standard input and stores it in the BigDecimal object.
double toDouble() Converts the BigDecimal value to a double.
You can assume that all the values of BigDecimal are nonnegative. Here is an example of how BigDecimal can be used:
BigDecimal x("45.67");
BigDecimal y("2.5");
//Should print 2.5
cout << x++ << endl;
//Should print 4.5
cout << ++x << endl;
//Should print false
cout << x==y << endl;

The team agrees that the goal is to have a winning boat ready to leave for the competition in 45 weeks at a cost of $3.2 million.

Design of the hull, deck, mast, and accessories will initiate the boat construction. After the design is complete, the hull can be constructed, the mast ordered, sails ordered, and accessories ordered. As soon as the hull is finished, the ballast tanks can be installed. Then the deck can be built. Concurrently with the deck construction, the hull can be treated with sealant. When the deck is completed and mast, sails, and accessories received, the mast and sails can be installed concurrently with the accessories. When these installations are complete, the boat can be sea-tested.

On the parallel path, choosing the crew and relocating them on site will take 6 weeks. At the same time, housing for the crew can be secured. Once the crew arrives and is housed, the training program using the old vessel will take place. After crew arrival, crew equipment can be selected and then ordered while training is underway. When training is complete, crew maintenance on the new vessel can begin. In order for the maintenance to begin, the deck must also be complete. Once crew maintenance is complete and while the boat is being sea-tested, sailing training on the new boat can be implemented. Finally, after the boat is sea-tested and sailing training is completed, regular sea training can be implemented, weather permitting.

- Fill in correct Predecessors, Contruct AON , If it’s currently the end of week 20 and $2 million has been spent to date, calculate SPI and CPI based on the following completion information: all tasks on track as planned for week 20 except C is 50%, F is 100%, and Q is 50%.  

- Fill in correct Predecessors, Find SPI , Find CPI

1)      Surrounding the Great Lake are four paper-mills, each producing 100 tons of paper per year. The paper is sold on the national market for $2 per ton, and including all the costs of production, costs for each firm are $1 per ton. Thus each firm earns a pure economic profit of $1 per ton. These paper mills require fresh water to operate and also produce a pollutant, which they dump into the Great Lake. New paper mills can also locate on the Great Lake, and produce at a base cost of $1 per ton. However, for each new paper mill which arrives (i.e., starting with the 5th mill), the water will become more polluted, and each firm will have to install a water treatment facility to obtain fresh water. This externality associated with new plants will raise the costs of paper production at all facilities, including the new one, by $.15 per ton for each new mill.

a. Fill in the table below to help you with your answers. which compares average revenues with average and marginal costs as new firms locate around the lake. (2 points)

b. Assume there is free access to the Great Lake. If paper mills will continue to locate as long as their is any economic profit to be earned, how many new mills will be built (i.e., the open access solution? (2 points)

c. What is the number of mills that maximizes total combined profits for the paper producers? (Hint: Average revenue remains constant at $2 (i.e, the efficient solution)?. What are these profits (resource rents) if the efficient solution? (2 points)

d. Suppose that government regulation reduced the number of mills by one from the number that would have resulted given free access. Show that the increase in profits to the remaining firms (the resource rent) is sufficient to compensate the firm that is denied access its lost profits. (2 points)

2) Suppose the state is trying to decide how many miles of a scenic river it should preserve. There are 100 people in the community, each of whom has an identical inverse demand function given by P=10-1.0q, where q is the number of miles preserved and P is the per-mile-price he or she is willing to pay for the q miles of preserved river. If the marginal cost of preservation is $500 per mile, how many miles would be preserved in an efficient allocation? (2 points)

Harv Busta owns and operates River Adventure Kayaks a small that manufactures one model of fiberglass Kayak Built for the while water kayaking. The following relates to budgeted and actual production and sales for River Adventure Kayaks during 2019

Standard Cost for one Kayak is as follows:
   Direct Material Resin 2Gallons @ $30.00/Gallon                   $60/ Kayak
   Direct Labor    3 Hours @30/Hour                                          $90/Kayak
   Variable manufacuring overhead: $4/Direct Labour hours      $12/Kayak
   Fixed Manufacuring Overhead   $180,000 Per Year
   (applied using direct labour hours) $24/dlh = $180,000/7500 dlh

   Budgeted production and sales    2500 Kayaks
   Budgeted Selling Price     $400/Kayak

Other Information:
   Variable selling and Administrative costs shipping  $40 per kayak
     Commision (5% of selling Price)                            $20 per Kayak
   Fixed selling and administrative costs                      $90,000 per year

River Adventure Kayaks' Planned sales for 2019   2500 Kayaks
Estimated 2019 Industry sales for similar types of Kayaks 20,000 Kayaks

During 2019

River adventure Kayaks produced and sold = 2400 Kayaks, The total market for similar Kayaks was 24000 kayaks
Actual selling prices = $440/Kayak
5000 gallons of resin was purchased costing $160,000 and 4860 gallons were used in production.
Direct Labor cost for 2019 $218,500 and 7600 Hours direct labor hours were worked during the year

Actual manufacturing overhead costs incurred in 2019 were:
                          Variable manufacturing overhead = $29,260
                             Fixed Manufacturing Overhead  = 186,200
                                                                                     ------------
                                                                       Total    = 215,460
   
Actual Selling and Administrative costs incurred in 2019 were
                              Shipping Costs     $ 97,200
                                   Commission    $ 52,800
                                                  ----------------------
        Fixed Selling and Administrative $ 150,000

Required

1. Develop a flexible Budget profit plan (Income Statement) for 2019 listing all revenues and expenses in a contribution mrgin format.
2. Determine the sales price and sales volume variances( calculate the sales volumes variance based on budgeted contribution margin).
3. Determine the market share and market size variances based on contribution margin.
4. Determine the material price and quantify variances for resin. The Price variance should be computed on materials purchased.
5. Determine the direct labor rate and efficiency variances
6. Compute the variable manufacturing overhead flexible budget variance.
7. Compare the Fixed Manufacturing overhead budget variance.

Capital budgeting criteria: ethical considerations

An electric utility is considering a new power plant in northern Arizona. Power from the plant would be sold in the Phoenix area, where it is badly needed. Because the firm has received a permit, the plant would be legal; but it would cause some air pollution. The company could spend an additional $40 million at Year 0 to mitigate the environmental Problem, but it would not be required to do so. The plant without mitigation would cost $210.55 million, and the expected cash inflows would be $70 million per year for 5 years. If the firm does invest in mitigation, the annual inflows would be $75.77 million. Unemployment in the area where the plant would be built is high, and the plant would provide about 350 good jobs. The risk adjusted WACC is 19%.

1. Calculate the NPV and IRR with mitigation. Round your answers to two decimal places. Enter your answer for NPV in millions. For example, an answer of $10,550,000 should be entered as 10.55.
   NPV $   million
   IRR  %

   Calculate the NPV and IRR without mitigation. Round your answers to two decimal places. Enter your answer for NPV in millions. For example, an answer of $10,550,000 should be entered as 10.55.
   NPV $   million
   IRR  %

2. How should the environmental effects be dealt with when evaluating this project?
   1. The environmental effects should be treated as a remote possibility and should only be considered at the time in which they actually occur.
   2. The environmental effects if not mitigated would result in additional cash flows. Therefore, since the plant is legal without mitigation, there are no benefits to performing a "no mitigation" analysis.
   3. The environmental effects should be ignored since the plant is legal without mitigation.
   4. The environmental effects should be treated as a sunk cost and therefore ignored.
   5. If the utility mitigates for the environmental effects, the project is not acceptable. However, before the company chooses to do the project without mitigation, it needs to make sure that any costs of "ill will" for not mitigating for the environmental effects have been considered in that analysis.
   
   -Select-IIIIIIIVVItem 5
3. Should this project be undertaken?
   1. The project should be undertaken only if they do not mitigate for the environmental effects. However, they want to make sure that they've done the analysis properly due to any "ill will" that might result from undertaking the project without concern for the environmental impacts.
   2. The project should be undertaken only under the "mitigation" assumption.
   3. The project should be undertaken since the IRR is positive under both the "mitigation" and "no mitigation" assumptions.
   4. The project should be undertaken since the NPV is positive under both the "mitigation" and "no mitigation" assumptions.
   5. Even when no mitigation is considered the project has a negative NPV, so it should not be undertaken.
   
   

12. All of the following are arguments used by proponents of offshoring except:

a. It creates enormous value for firms and economies.

b. Western firms are able to tap into low-cost and high-quality labor.

c. Firms can focus on their core capabilities.

d. For every dollar spent by US firms on India, the U.S. obtains $1.13.

e. It is not true that some US employees may lose their jobs.

14. Which are true regarding informal constraints?

a. When formal institutional constraints fail, informal constraints tend to fail as well.

b. Following the collapse the former Soviet Union, informal constraints were unable to facilitate growth of entrepreneurial firms.

c. Even in developed economies, the best-connected firms can reap significant benefits.

d. All of the above.

e. None of the above.

15. Which is the instrumental view regarding motivation to become ethical?

a. Jump on the “bandwagon” to appear more legitimate without becoming more ethical.

b. Be self-motivated to “do it right” regardless of social pressures.

c. Good ethics are a way to achieve good profits.

d. Ethics is an instrument to impose the values of the elite on the masses.

e. Ethics is a game that is played like a musical instrument.

17. Which of the following are NOT true in regards to small and medium-sized enterprises (SMEs).

a. They create approximately 50% of total value added in the world.

b. They generate 60-90% of employment, depending on where they are located.

c. Each year 4-6% of adult working population in North America, Western Europe, Central and Eastern Europe attempt to start a new venture.

d. Around the world, a majority of entrepreneurial firms (including 60% of start-ups in the US) succeed within 6 years.

18. To achieve success, entrepreneurial resources must be:

a. Of low value so as to reduce cost.

b. Common.

c. Non-core competencies that are hard to imitate.

d. Organizationally embedded.

e. All of the above.

19. Which of the following is NOT an example of one of the five entrepreneurial strategies?

a. Use speed and stealth to disrupt and pre-empt competitors.

b. Emphasize analysis over action.

c. Less novel, but substantially new ways of doing business can also be innovative.

d. Centrally located network positions are most helpful.

e. Selling an equity stake to outside investors.

20. “Greenfield ventures” are:

a. Examples of international grain corporations.

b. Environmentally friendly MNEs.

c. Wholly owned subsidiaries that are built from scratch in a foreign country.

d. Irrigation projects in areas stricken by famine.

e. Joint ventures in agriculture between governments and private firms.

Case Study 2 Construction

Fred’s Sheds

Fred Smith, the founder and chief executive of Fred’s Sheds, received a phone call one afternoon from a local farmer, Mr Jones, requesting a quote to design and build a large storage shed on his property. Fred asked Mr Jones what size and type of shed he would like, when he wanted work to commence, and when he wanted it completed.

Mr Jones told him that he required a large shed, big enough to store his tractor and utility vehicle, and spaces for a workbench, tools and fertilisers.  

He also specified that the shed must have power, water and a toilet. He requested that the shed be made of high quality materials, because twice in the previous ten years some of the other sheds on his property had been damaged by inclement weather, costing him many thousands of dollars in repairs.

Mr Jones wanted work to commence in 6 week’s time and would like the job completed no more than 3 weeks after that so he would have a place to store his vehicles before the winter rains came.

Mr Jones asked Fred to come up with a design and quote to build his shed and asked him to present them to him at a meeting at his house in a week’s time.

He told Fred that he was obtaining three quotes from three different builders, and that he would select his preferred builder based on four criteria.

These were quality, the ability to start and finish on time, and cost.

Mr Jones said he would like to spend no more than $40,000 on the shed, but would consider alternate proposals that were a little higher in price if they could exceed his minimum evaluation criteria.

As soon as Fred hung up the phone his mind started to think of all the different tasks he would need to do to win and complete the job. Having built many sheds before, he was confident he had the project management skills to build a shed that met Mr Jones’s extensive criteria. He jotted down some of his thoughts on a notepad so that he would not forget anything.

First of all, Fred knew he would have to come up with a winning design, so he would need to put his designer, Karen, on the job of coming up with some innovative designs.

Fred would also have to source higher quality building materials than he usually used because, although Fred always used good materials, he thought he would try to use the best possible materials, if it was cost effective, to give him the edge in meeting Mr Jones’s stringent evaluation criteria over his two competitors.

Fred also knew that he would need to plan the human resources necessary to complete the job in the timeframe required. Some of his other construction projects were nearing completion, so it would not be too much of a problem getting some of his construction workers to start in 6 weeks’ time. However, Fred was not sure about the availability of his subcontractors, Eddie the electrician, Bob the plumber, Gary the glazier and Tony his fencing contractor and odd job man, because business was booming and they were all very busy.

If he was successful in winning the contract, Fred knew that there would still be lots of work to be done. After signing the contract, he would need to submit a Development Application and construction certificate to the local council and await their approval.

Mr Jones’s final selections for colour and style of shed materials would need to be finalised and a deposit received prior to commencing work.

Once all that had been accomplished, Fred and his team of four would have to prepare the site for construction. This would involve performing underground cable service checks, and perhaps contracting a surveyor to locate existing boundaries as the shed was going to be built close to the boundary with Mrs Mitchell’s neighbouring property.

The site would need to be cleared, temporary site facilities such as a toilet, site fencing, power and water would have to be established, the site set out and the formwork built. Following this, the site would be excavated.

While the excavation was taking place, Fred would need to remember to book a council inspection for the formwork prior to concreting, as well as booking the concrete truck, a date for the shed to be delivered, a date for the shed installation team to put the shed into place, and dates for his subcontractors to come and install power and water.

After pouring the concrete and finish, his team would need to strip the formwork. At this time Fred could invoice Mr Jones for a progress payment as this represented a milestone in the project. Following this the shed could be delivered and installed,

Eddie the electrician could be called in to connect the mains power, Bob the plumber could connect the water and install the toilet and Gary the glazier could install the windows. While they were busy doing that, Fred and his team could start clearing the site, removing any rubbish and the temporary site amenities.

Once all these tasks were accomplished, the job would be at practical completion. Fred would then meet with Mr Jones, present him with a final bill and handover the keys to the shed. Fred smiled to himself feeling confident that he would beat his two competitors to the job and thinking that he would soon have another satisfied customer.

Complete the work breakdown structure (WBS) template.

Work Breakdown Structure Template